Brokers come into their own as GI market hardens

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by Danielle Bailey July 31, 2010 in Insurance News

1 Answer Network is urging consumers to put their faith in local brokers to find the best insurance deals, as a hardening general insurance market sees higher premiums and reduced benefits.

Insurers now need greater capital adequacy but are facing lower investment returns and a high incidence of claims, in some areas of the market.

The Network is therefore predicting that premiums will rise, benefits will be reduced, excesses raised and extras in insurance packages thinned out.

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ABI: flood defences before spending cuts

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by Danielle Bailey July 29, 2010 in Insurance News

The Association of British Insurers (ABI) is urging the government to make investment in flood defences a priority, despite the squeeze on spending.

Speaking at the Local Government Flood Forum, the Association’s director of general insurance, Nick Starling, said a long-term flood prevention strategy, backed by the right level of investment, is crucial if homes, services and businesses are to be properly protected.

The ABI estimates for every £1 spent on protecting communities from flooding, £8 is saved to the economy.

Under an agreement with the Government the body has pledged to make flood insurance as widely available as possible until 2013 but in return ministers will need to deliver a long-term flood management strategy, with the right level of investment, plus planning policies that stop new homes being built in areas at high risk of flooding.

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Watch out for America’s 100 most dangerous roads during your summer travels

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by Danielle Bailey July 27, 2010 in Insurance News

What season is most dangerous to drive, winter or summer? If you said winter, you join about 83% of surveyed Americans. But the reality is that the three months of summer have the highest auto accident rates, accounting for about one in three fatalities. And as we’ve discussed before, Saturdays in August are some of the most dangerous days to drive.

When it comes to summer driving safety, there are definitely some spots that are hotter than others. The Daily Beast crunched the numbers on data 5 years of data from the National Highway Safety Administration to come up with a list of 100 U.S. interstates most likely to generate a fatal crash.

For another take on unsafe roads, you might turn to SafeRoadMaps, which offers a variety of interactive maps to tracks fatality data . See their report on states with the most rural summer hotspots (PDF).

Jon Burner of Forbes recently wrote an interesting article about America’s fastest roads – highways where speeds often exceed 90 mph.

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Wedding Insurance

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by admin July 26, 2010 in Insurance News

Many people always revolve around the dilemma of whether should go for wedding insurance or not. Answer is very simple, everyone should avail the insurance policy at the time of their wedding. There are 3 things which are true for every marriage: You want your wedding to be a perfect ceremony, they very often are not, and your insurance of wedding reception should be an protected investment. You can watch any reality television show about wedding and then you get understand that you should always expect the unexpected when you are planning for your wedding. Even if you have planned the best covers according to the schedules, seating and food charts and unwanted guest, there is many things which are not in your control.Wedding insurance covers various aspects of the wedding day, some of them are as follows:

For wedding, dress is very important concerned and along with it wedding insurance is also very important for your wedding planning. Read more…